INM struck its first standstill agreement with banks and investors in May, running until 26 June, with the aim of negotiating a refinancing deal on a €200m (£178m) bond. The standstill deal was subsequently extended until Friday 24 July.

Proceeds from the sale, which will raise €22m (£19m), are being used to pay off the €15m working capital facility that INM secured from its banks when the "standstill" agreement was first struck in May. INM secured the working capital from its banks against certain assets.